TAIPEI (Taiwan News) - A leading LCD panel maker in Taiwan was said to have laid off 72 workers all at once last Friday, May 18, and the company explained those being sacked are the lowest performers after the news broke out.
Founded in 2003, Innolux Corp. employees 62,000 workers worldwide, and half of them are based in Taiwan, according to its official website, but has delved into automated production in recent years. The company produces a full range of large/medium/small size of LCD panels and touch-control screens.
A group of Innolux workers reported to Apple Daily that they were informed to leave immediately upon arrival at the office on Friday. The company said that the latest layoff plan was targeting poor performers, who account only 0.2 percent of the total headcount in Taiwan.
The company added that the performance of workers is reviewed on the regular basis, and the lowest performers are asked to receive on-the-job training for six months, but those who continue to be underperformed are asked to leave. The company emphasized that the layoff process has been made according to law.
Starting this year, South Korean and Taiwanese panel markers are facing a sudden downturn in earnings in the first quarter, due to sliding market demand. The company announced that its combined revenue for the month of April was NT$19.7 billion (US$0.65 billion), which is 12.7 percent lower than the previous month and 30.6 percent lower than last year.